Q1 2019 - Property Market Update
Q1 of 2019 was pretty much as speculated; we are adjusting to new laws, new prices and lower inquiries due to many global economic reasons.
We are learning to adapt on a weekly basis to keep in line with market requirements but the old rule still stands strong, a property is only worth what someone is willing to pay for it.
In my experience leased properties are going for an average of 5-10% under asking and buyers are negotiating up to 20% off asking prices.
As you can see below there is hardly any difference between Q1 2019 and Q1 2018 sales transactions.
1st January 2019 – 31st March 2019 Off plan sales – 4,641 transactions – 40% of which were under 1m Secondary Sales – 3,621 - 45% of which were under 1m 1st January 2018 – 31st March 2018 Off plan sales – 4,556 - 57% of which were under 1m Secondary Sales – 3,809 – 43% of which were under 1m 1st January 2017 – 31st March 2017 Off plan sales – 7,221 - 39% of which were under 1m Secondary Sales – 4,090 - 43% of which were under 1m
If you are looking to sell or lease keep in weekly contact with your agent to ensure you are in the best price point and check your property online and see where you sit in searches for likewise properties.
If you would like advice on whether to sell or lease your property please do not hesitate to contact me for a full valuation report and advice.
Laura Adams Managing Director Carlton Real Estate
data from propertymonitor.ae
Q4 2018 against Q1 2019 sale prices - 1 bedroom apartment average price per sq ft
% Drop in sales price from Q4 2018 to Q1 2019 - 1 bedroom apartment average
Q4 2018 against Q1 2019 sale prices - 3 bedroom villa/townhouse average price per sq ft
Properties Wanted For Lease
Palm Jumeirah - 2 or 3 bedroom apartments in Shoreline or Oceana and Garden and Signature Villas
The Greens - 2 or 3 bedroom apartments up to AED120k
Dubai Marina - 1 and 2 bedroom apartments, multiple budgetsFor Sale Residential 3 Ritz Residence Studio apartments for only AED1,080,000 - size range 550-635 sq ft call Laura 050 980 6722
Mira Oasis 1, Brand New, 3 bedroom + Study + Maid Type H (Corner Unit) Selling Price: AED 1.45 M Vacant Near Park - reply to this email
Marina Diamond, Dubai Marina, two bedroom apartment - 1,100 sq ft AED975,000 - 052 709 3710
Executive Tower G, 2 bedroom apartment, Business Bay, AED1,680,000 - 050 980 6722
Commercial For Rent
Duplex Offices in Media City from AED163,919 per annum for 900
Dubai Marina, Ground Floor Retail - 1,405 sq ft internal - 2,084 terrace - AED386,250 per annum sq ft
DIFC - Index Tower Fully Furnished offices from 520 sq ft to 3,200 sq ft
JLT - Indigo 7 Fully Fitted Office - 3,314 sq ft - AED477,354
DIP 2 - Warehouse 7,300 sq ft, 100kw, light industry or storage AED130,000
Business Bay Offices from AED40,000 per annum in B2B Tower
Please reply to this email if interested
For Sale Residential Off Plan
Bellavista comprises three residential towers commanding far-reaching views across the entire DAMAC Hills development. With its supreme location overlooking the Trump International Golf Club Dubai, there’s a staggering choice of outdoor facilities within easy reach. From premium retail therapy and fine dining, to the events part and the world-class fitness centre, Bellavista gives you access to it all.
From the moment you enter Bellavista, you’ll experience the refined ambiance of the elegantly styled lobby, which sets the scene for your arrival home. Apartments feature thoughtful spaces along with breathtaking views.